This question is asked a lot by new virtual tour service providers who join RTV and it can be a very difficult one to honestly answer. There isn’t a secret number that everyone uses so to answer the question, you will need to do a bit of research. Let’s go over a few of the key areas to help provide you with a good idea of what to charge your customers for a virtual tour.
The first thing to do when coming up with pricing for the packages you offer is to figure out what will be included within each virtual tour package. Separate packages will include a certain amount of still images, 360 panoramas, HD images, and 360 spherical panoramas. So you will want to create a package with a set of allowed images and panoramas and decide how much to charge for each. A great way to come up with a price is to figure out how much time it will take you to complete a virtual tour photography shoot for each given package. Figure out what your time and photo quality is worth and work with that number.
To get a more accurate idea of what to charge, research your area and competition. Most of this information can be found online in places such as forums, groups, and message boards. You can find a lot of photographers and virtual tour businesses that will even share information with you and provide some assistance. Making great connections with people in the same industry is a key component for a successful business. Remember that sharing this information can help keep industry prices higher than you would expect. For example if your coming into the business and everyone else in your area is charging $119 for a standard tour it would be silly for your standard tour to be priced out at $59 as this would not only short change you, but it would devalue the industry overall.
Don’t forget that each package can include “add-ons” as well. These are additional paid features that can be added to a virtual tour. Add-ons are great upsellers and will provide your customers with the best interactive virtual tour experience. Some features may include AstroZooms, Narration, Floor Plans, Single Property Websites, Elevated Photos, Flyers, Distribution, Video, and more. The possibilities are endless with your virtual tour business!
Whatever you do NEVER offer a photos only package. Remember that the RTV virtual tour software package will supercharge your virtual tour business when used properly. Each one of your photo shoots will become an online business card for your business. When you offer a photos only package it’s very hard to see who did amazing real estate photography or business photography unless you watermark all of your images. Let your customers know that doing a photos only package would be doing them a disservice and the exposure they’ll receive when they use your media player is worth the small amount of effort to put it into the MLS and their website.
So do a little digging, research your area, become familiar with the local economy, and make sure that you are paid fairly for your time and efforts that go into creating such great virtual tours. We wish you the best of success and as always be sure to contact us if you have more questions.
Virtual Tour Software & Professional Hotel Photography
Order a virtual tour: 866-947-8687